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WWYD?
So, DH has an old college wrestling coach who he would literally probably kill for - this man is the "reason" he went to college according to DH. (In all fairness, he probably did play a major role, but DH has MORE than made up for that). Anything this man asks DH to do, he does. But this time, I think it went a little too far.
Apparently Coach wants to invest in real estate and rent out to college wrestlers (hello, conflict of interest...anyone?) . He approached DH about investing with him in a down payment for a home about two months ago. I told DH that now probably wasn't the best time for us to be investing $5,000 in something that we will only get a small monthly return for. I sat down and showed DH it would take 2 years for us to even make the $5,000 back, if we got lucky and it was rented right away with no break in renters. Add the cost of being a co-owner and being responsible for a rental property in and its just not doable right now. Maybe in two or three years, but I doubt I will EVER want to be a landlord - however I'd be willing to think about it at that point (as long as nothing changes).
Then Coach went behind our backs and apparently told DH's parents about this plan (back story:FIL is a handyman extranoidaire and I suspect this is the real reason Coach wants DH as a partner....free labor from FIL) and asked them to talk to us. MIL agrees with me about Coach sometimes taking advantage of DH and told me about it right away.
So I am torn. I want to approach DH about it and ask him to please tell Coach to back off about it. But I also don't want him to think I'm attacking somebody that he truly respects. I also sort of want to call Coach up and tell him to stfu, but I know I shouldn't!
Re: WWYD?
Ditto. Definitely play the Hunter card on this one as well. You guys will have increased expenses for the next few years, and that's a big gamble to take with your money right now. Also, if you plan on SAH for a bit, you really need to keep a little cushion JIC.
I'm late, but I think you did the right thing! He may be a great guy, but that just doesn't sound like a good idea.